From the Government they estimate that the Sustainability Guarantee Fund (FGS) of the CONSIDERED may be revalued by about US$ 2,000 million after the announcement of the Minister of Economy, Sergio Massaof rescue and unify bonds that are in the hands of public bodies.
Currently the retirees’ fund has US$ 11,150 million of public titles with local legislation and US$ 2,500 million under foreign law. The titles will be delivered in their entirety to the Nation, which will remove them from the list and will imply a direct deleveraging.
for the almost US$ 12,000 million Argentine law, which implies a greater volume, what was signed by Massa and agreed with the head of ANSES, fernanda ravertaconsists of the FGS putting them out to tender gradually, indicated NA.
Gabriel Rubinstein gave details about the obligation of state agencies to sell bonds in dollars
Of the result, 70% will remain in the hands of the Treasury, while the other 30% will remain in the Fund. According to the Agency, these close to $400,000 million may be allocated to subsection L that governs the entity, that is,productive projects in the real economy and credits for retirees.
The remainder arising from operations will be compensated by the Treasury to the FGS with a dual bond that adjusts for inflation and devaluation.
Interest rates
It will have a rate of 8% and a coupon of 3% and at 13 years, an attractive quality in a title that will not lose against increases or dollars. The title will be acquired at a technical value, which means that ANSES will give the Nation titles at $60 (market price), while it will receive $100.
ANSES sources maintain that the retirees’ fund will benefit from a extra valuation of his patrimony estimated at US$ 2,000 million.
This, added to the $400,000 million that it will receive in delivery of the papers in currency and the added benefit of having an asset that is indexed for inflation and devaluation. As of January, the Fund’s assets were at US$56.5 billion.
LM
You may also like
Source link
